Assenagon Asset Management S.A. Acquires Shares of 32,543 Roku, Inc. (NASDAQ:ROKU)

Assenagon Asset Management S.A. purchased a new position in shares of Roku, Inc. (NASDAQ:ROKU) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 32,543 shares of the company’s stock, valued at approximately $2,292,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vision Financial Markets LLC purchased a new stake in Roku during the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of Roku in the 1st quarter worth $35,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 491 shares during the period. Allianz SE acquired a new stake in shares of Roku in the fourth quarter valued at about $39,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Roku during the 4th quarter valued at about $41,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ROKU. Piper Sandler assumed coverage on shares of Roku in a research report on Thursday, April 17th. They set a “neutral” rating and a $65.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $95.00 price target on shares of Roku in a report on Monday, June 2nd. Citigroup reduced their target price on shares of Roku from $81.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price target on shares of Roku from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.37.

Roku Stock Performance

Shares of ROKU stock opened at $82.17 on Tuesday. Roku, Inc. has a 52-week low of $48.33 and a 52-week high of $104.96. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of -92.33 and a beta of 2.09. The firm has a fifty day moving average of $67.99 and a 200-day moving average of $74.97.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.35) EPS. On average, sell-side analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. The trade was a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 4,600 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,737 shares of company stock worth $4,987,114 in the last quarter. 13.98% of the stock is owned by company insiders.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.